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Laws › Act on the Guarantee of Employees' Retirement Benefits › CHAPTER IX PENALTY PROVISIONS

Act on the Guarantee of Employees' Retirement Benefits — Article 44 (Penalty Provisions)

근로자퇴직급여 보장법 제44조

This English translation is based on the Korean text effective 2022-07-12. The Korean law has since been amended (current version effective 2026-09-18) — check the Korean original.

A person falling under any of the following subparagraphs shall be punished by imprisonment with labor for not more than three years or by a fine not exceeding 30 million won: Provided, That in cases falling under subparagraph 1 or 2, the person shall not be prosecuted against the expressed will of the victim: <Amended on Apr. 13, 2021>

1. A person who fails to pay retirement allowances, in violation of Article 9 (1);

2. A person who fails to pay benefits, contributions, or interest for arrears at the time of the retirement of an employee, in violation of Article 17 (2) or (3), 20 (5), 23-7 (2), or 25 (3);

3. A retirement pension trustee who fails to take measures to protect participants, in violation of Article 27 (4);

4. A retirement pension trustee who violates Article 33 (3) or (4).

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